SecurityGPS is your compass to more effective cyber risk control.
There’s a saying in the cyber security industry that there are two types of business today: Those that have been breached and know IT, those that just don’t know IT, yet.
Nearly all of the organizations that we assist possess cyber insurance of some form or have had a data breach and are preparing to enhance their cyber risk insurance coverage. The number of companies purchasing these policies continues to grow.
Today, cyber insurance is all about data breach response. Many times, insurers can help the breach response go smoother by offering access to data security experts and providing cyber-forensic services.
As with any investment, experienced companies employ cyber security solutions, instead of depending on cyber insurers ‘reactive’ abilities. Either way, insurance companies are driven to sell cyber cover that usually excludes data protection. Data is an intangible unknown and insurance companies do not underwrite what they do not understand.
This is where CloudCover and the cyber-securing, cyber-insuring industry no longer are comparable. CloudCover underwrites data in-motion incrementally when all other cyber-insurance programs exclude data coverage. The CDIP solution is embedded into the software-definable infrastructure which further enables underwriting of data in-transit between cloud services, practically replacing the service level agreement.
SecurityGPS risk profiles cyber security risk of a company’s network, systems, people and data assets.
SecurityGPS Audit and Analysis is a certified risk compliant report and risk-score analysis.
CDIP is a cloud-defined insurance protocol that enables real-time risk control and risk transfer.
SecurityGPS is a new benchmark.
On the flip side of this, it’s not just insurers who are using the cyber risk profile to monitor their policy holders. We have also seen organizations use cyber risk profile benchmarking to negotiate their own insurance policy and obtain discounts in their premiums by being able to demonstrate evidence-based performance metrics that provide context for how their performance compares to peers and their industry as a whole. The SecurityGPS delivers this and more!
What is a Certified SecurityGPS?
No one wants to be breached, or wait to be notified by a third-party of a serious data breach. Through the SecurityGPS audit process and analysis, organizations will be motivated to take steps to improve their cybersecurity, especially if continuous monitoring is certified underwritten secure, private and compliant. Underwriters are beginning to reward ‘certified cyber security’ compliance and monitoring by offering better cyber insurance terms.
3rd-party require cyber insurance.
Proof of certified cybersecurity insurance by business partners is increasing. Clients are concerned about online risk, and want proof that their vendors are cyber-risk covered. Security awareness and the demand by online connected partners to buy cybersecurity insurance or perhaps lose valuable business relationships are increasing. As more data is held in cloud computing services, the desire for continuous cyber risk assessments have arrived.
Governance, Practice, Standard: identify, correct, transfer, and recover.
Overall, cyber insurance alone will not make a company more secure. However, with dynamic security awareness and critical loss controls, we believe it’s clear that one of SecurityGPS’ benefits will be more consistent cyber security knowledge, as well as a better understanding of what proactive security hygiene looks like.
A better practice mind-shift in the cybersecurity insurance industry is afoot also. The way commercial insureds view cyber coverage today, we expect CloudCover shall become a standard cyber security underwriting solution. Our cyber-underwriting, rewards those with the best incremental data governance. Better incremental loss control means less risk. Less incremental risk means lower cyber insurance cost. Simple as that!
SecurityGPS is your 'cloud compass' to certified cyber risk control.